WINNERS

it, which comes from the New York state budget. Crain’s New York Business reported there’s another issue. When this fund issues a business loan to an applicant, it comes with strings attached, including a 10% interest rate on the loan amount.

On March 7, voters in Oklahoma had the chance to vote on legalizing cannabis with question 820. With Oklahoma having one of the largest cannabis industries in the country, you would think that this one would have sailed through? Not so. When the ballots closed, and the results came in, the people of Oklahoma voted to keep cannabis illegal, with over a 20-point margin.

Virginians voted to legalize cannabis sales in the state on July 1, 2021, becoming the first southern-bordering state to legalize cannabis. Legal sales in the state were supposed to begin on Jan. 1, 2024. However, lawmakers in the state were unable to reach an agreement on legislation that would establish a framework for the industry. With the 2023 legislation session now over, Virginia will be unable to start its industry on the projected timetable.

While this article can’t discuss everything that has unfolded in the cannabis industry recently — I only have 1,000 words! — these and other developments were considered when estimating the new time on our Cannabis Clock: 11:51 p.m.

Yes, we lost time since we last checked in. And yes, progress toward legalization will continue to be slow and uneven. That said, progress is progress. My hope for the cannabis industry is that it will always continue to advance, however slowly.

Keep an eye out for the next installment of the Cannabis Clock. How else will you know what time it is? ❖